Tag Archives: Franklin Roosevelt

Biden sets out a $2 trillion US infrastructure plan to be funded by corporate tax hike

A once in a generation investment. That`s what president Biden called his $2 billion program of infrastructure spending. Biden said it will create millions of jobs while giving roads, utilities and American industry a badly needed upgrade.

But somebody have to pay for it, but who? «We the people» of course. The corporations. And there is one simple way to do that: TAX. Minimum wages are rising. So are the taxes, and what is that suppose to mean? It means the inflation is coming.

«I`m proposing a plan for the nation that rewards work. Not just rewares wealth. It builds a fair economy that gives everybody a chance to succeed. And it`s going to create the strongest, most resilient innovative economy in the world,» Biden said in a speech a few days ago.

The Biden administration plans on modernizing 32,000 kim of highway, 500,000 charging points for electric autos, and bringing back key industries such as chip production back to the U.S. Chips are still mostly produced in Asia. (Bringing back chip industries sounds like a Trump strategy).

The project is expected to take eight years to complete, and some of the funding will come from a corporate tax hike from 21 to 28 percent. Biden`s supporters say the program will create millions of well.paid jobs, and stregthen America`s ability to compete with China.

2 trillion dollars is a lot of money and there is no doubt that this program will boost the semiconductor industry, but also the EV industry.

Biden said he is not worried about the U.S economy at all. At the same time, Janet Yellen makes a push for global minimum corporate tax. She doesn`t want a race to the bottom, and warns of dangers to the American economy if U.S acts alone in raising corporate tax rates.

When Obama hiked corporate taxes, businesses fled. One of the largest corporations in the world; Apple, ended up in Irland thanks to a great offshore plan, but Trump were bringing the company back to the U.S.

It speaks for itself. The more money corporations pay in tax, the less competetive they are on the world stage.

The time we are living in today, is similar to the 30`s, and Biden`s infrastructure plan is often comparead to Franklin D. Roosevelt`s «New deal».

President Franklin D. Roosevelt

The New Deal was a series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939.

The programs focused on what historians refer to as the «3 Rs»; relief for the unemployed and poor, recovery of the economy back to normal levels, and reform of the financial system to prevent a repeat depression ( the stock market crached in 1929).

The first deal (1933 – 1934) dealt with the pressing banking crisis through the Emergency Banking Act and the 1933 Banking Act. The Federal Emergency Relief Administration provided $500 million ($9,88 billion today) for relieft operations by states and cities, while the short-lived CWA gave locals money to operate Make-work projects in 1933 – 1934.

The Securities Act of 1933 was enacted to prevent a repeated stock market crash.

The second New Deal in 1935 – 1936 included the National Labor Relations Act to protect labor organizing, the Works Progress Administration relief program (which made the federal government the largest employer in the nation), the the Social Security Act and new programs to aid tenant farmers and migrant workers.

The final major items of New Deal legislation were the creation of the United States Housing Authority and the FSA, which both occurred in 1937, and the Fair Labor Standards Act of 1938, which set maximum hours and minimum wages for most categories of workers.

Keep in mind that all this happened a few years before the World War II occurred.

The economic downturn of 1937 – 1938 and the bitter split between the American Federation of Labor and Congress of Industrial Organizations labor unions led to major Republican gains in Congress in 1938.

Conservative Republicans and Democratas in Congress joined the informal conservative coalition. By 1942 – 1943, they shut down relief programs such as the WPA and the CCC and blocked major liberal proposals.

Nonetheless, Roosevelt turned his attention to the war effort and won reelection in 1940 – 1944. Furthermore, the Supreme Court declared the NRA and the first version of the Agricultural Adjustment Act unconstitutional, but the AAA was rewritten and then upheld.

Republican president Dwight.D. Eisenhower (1953 – 1961) left the New Deal largely intact, even expanding it in some areas. In the 1960`s, Lydon B. Johnson`s Great Society used the New Deal as inpiration for a dramatic expansion of liberal programs, which Republican Richard Nixon generally retained.

However, after 1974 the call for deregulation of the economy gained bipartisan support. The New Deal regulation of banking (Glass-Steagall Act) lasted until it was suspended in the 1990`s.

From 1929 to 1933 manufacturing output decreased by one third, which economist Milton Friedman called the Great Contraction. Prices fell by 20%, causing deflation that made repaying debts much harder.

Unemployment rate from 1910 to 1960

Unemployment in the United States increased from 4% to 25%. additionally, one-third of all employed persons were downgraded to working part-time on much smaller paychecks. In the aggregate, almost 50% of the nation`s work-power was going unused.

Before the New Deal, deposits at banks were not insured. When thousands of banks closed, depositors lost their savings as at that time there was no national safety net, no public unemployment insurance and no Social Security.

The depression had devastated the nation. As Roosevelt took the oath of office at noon on March 4, 1933, all state governors had authorized bank holidays or restricted withdrawals. Many Americans had little or no access to their bank accounts.

Farm income had fallen by over 50% since 1929 (stock market crash). An estimated 844,000 non-farm mortgages had been foreclosed between 1930 – 1933, out of five million in all. Political and business leaders feared revolution and anarchy.

Real GDP from 1910 to 1960

In 1935, Roosevelt called for a tax program called the Wealth Tax Act (Revenue Act of 1935) to redistribute wealth. The bill imposed an income tax of 79% on incomes over $5 million. It raised the bitterness of the rich who called Roosevelt «a traitor to his class» and the wealthy tax act a «soak the rich tax».

The Roosevelt administration was under assault during Roosevelt`s second term,which presided over a new dip in the Great Depression in the fall of 1937 that continued through most of 1938. Production and profits declined sharply.

Unemployment jumped from 14,3% in May of 1937 to 19% in June 1938. The downturn was perhaps due to nothing more than the familiar rhythms of the business cycle, but until 1937 Roosevelt had claimed responsibility for the excellent economic performance.

That backfired in the recession and the heated political atmosphere of 1937.

Keynes did not think that the New Deal under Roosevelt ended the Great Depression: «It is, it seems, politically impossible for a capitalistic democracy to organize expenditure on the scale necessary to make the grand experiments which would prove my case, except in war conditions.»

Worldwide, the Great Depression had the most profound impact in Germany and the United States. In both countries the pressure to reform and the perception of the economic crisis were strikingly similar.

When Hitler came to power he was faced with exactly the same task that faced Roosevelt, overcoming mass unemployment and the global Depression. The political responses to the crisis were essensially different; while American democracy remained strong, Germany replaced democracy with fascism, a Nazi dictatorship.

The initial perception of the New Deal was mixed. On the one hand, the eyes of the world were upon the United States because many American and European democrats saw in Roosevelt`s reform program a positive counterweight to the seductive powers of the two great alternative systems, communism and fascism.

As the historian Isaiah Berlin wrote in 1955: «The only light in the darkness was the administration of Mr. Roosevelt and the New Deal in the United States».

By contrast, enemies of the New Deal sometimes called it «fascist», but they meant very different things. Communists denounced the New Deal in 1933 and 1934 as fascist in the sence that it was under the control of big business. They deopped that line of thought when Stalin switched to the «Popular Front» plan of cooperation with liberals.

To contact the author: post@shinybull.com

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shinybull.com. The author has made every effort to ensure the accuracy of the information provided; however, neither Shinybull.com nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities, or other financial instruments. Shinybull.com and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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Is this the end of the bull market?

The bull market is 11 years old on Monday, and it is the longest stretch of non stop gains ever. The sell off over the past 12 trading days means that the US stocks are on the edge of a bear market. Therefore; Tuesday will be a test.

If the market goes below 20%, the bull market will officially be over, and we are entering a bear market. After the Great Recession, the bull market started in March 2009. The S&P 500 has gone straight up since then.

The S&P 500 is up 339% and it has been a slow recovery. It`s similar to the recovery from the Great Depression in June 1932 were the S&P 500 skyrocketed 325%. At that time, it was the deepest recession in modern American history.

President Franklin Roosevelt supported the bull market with massive government spending. Later on, Roosevelt pulled back from the program and the Fed tightened its reserve ratios for banks. The economy didn`t recover as much as it should, and tighter monetary and fiscal policy led to a double-dip recession.

This is why the Fed is important now. So are the Trump administration. The Fed cut the rates 50 points only days ago and they will probably come up with more news about the market even this week.

The Fed offers Repo Market $50 Billion more to ease rate pressure. New York Fed Repo Totals $112,93 Billion and Fed`s move to tap liquidity operations will buy time on more rate cuts.

What they do now is great leadership on the world stage. They can`t stop the virus but they can make liquidity.

To contact the author of this story: Ket Garden at post@shinybull.com

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Normandy`s D-Day landing beaches have come to symbolise universal hopes for freedom and peace, and beyond that, for reconciliation

We will never be finish with World War II and the ideology behind it. 6th June 2019 marks the start of the 75th anniversary of the D-Day Landings and the Battle of Normandy and with it, a momentous occasion to celebrate peace, liberty and reconciliation.

Nigel Farage and his supporters is one of the first to celebrate next week because they see it as a victory for democracy. They don`t like EU because it crushes democracy and take decision-making powers away from ordinary people and gives it back to unelected bureaucrats in Brussels.

On 6 June 1944 and during the long summer that followed, men from all over the world came to fight in Normandy to defeat Nazism and re-establish freedom. Normandy will bear the scars of this moment in history for ever and every year we remember and pay tribute to the veterans from America, Britain and Canada to name a few. Keep in mind that Russia also defeated the Nazis.

The Normandy landings were the landing operations on Tuesday, 6 June 1944 of the Allied invasion of Normandy in Operation Overload during World War II. Codename Operation neptune and often referred to as D-Day, it was the largest seaborne invasion in history.

The operation began the liberation of German-occupied France (and later Europe) from Nazi control, and laid the foundation of the Allied victory on the Western Front.

After the German Army invaded the Soviet Union in June 1941, the Soviet leader Joseph Stalin began pressing his new allies for the creation of a second front in western Europe. In late May 1942, the Soviet Union and the United States made a joint announcement that a «…full understanding was reached with regard to the urgent tasks of creating a second front in Europe in 1942.»

However, British Prime Minister Winston Churchill persuaded US President Franklin D. Roosvelt to postpone the promised invasion as, even with US help, the Allies did not have adequate forces for such an activity.

Instead of an immediate return to France, the western Allies staged offensives in the Mediterranean Theatre of Operations, where British troops were already stationed. By mid-1943 the campaign in North Africa had been won.

The allies then launched the invasion of Sicily in June 1943, and subsequently invaded the Italian mainland in September the same year. By then, Soviet forces were on the offensive and had won a major victory at the Battle of Stalingrad.

The descision to undertake a cross-channel invasion within the next year was taken at the Trident Conference in Washington in May 1943. Initial planning was constrained by the number of available landing craft, most of which were already committed in the Mediterranean and Pacific.

At the Tehran Conference in November 1943, Roosvelt and Churchill promised Stalin that they would open the long-delayed second front in May 1944.

Hitler and the Nazis wanted Europe, but they lost. The Allies won and took back their own countries. They celebrated freedom and liberty. Two important things Trump often talks about. He also say that nobody can take control over the United States because they want to rule their own country.

Look at Europe now. Especially after the election were the Brexit-party won big. The Global establishment are often talking about the right-wing partys like «anti-imigrants» or «far-right partys», but that description is false.

They also often put Trump in the same folder as Salvini, Farage, Le Pen and Orban. How can so many experts be wrong? The global elite are doing a big mistake; they are not listening to the voters. The elites are being rejected because they failed, and the fight has just begun. It will intensify next year.

The global elite must start to eccept the fact that the populist conservatives and economic nationalists are on the rise. Just take a look at the «Deep State» in the U.S that rose up before and after Trump`s election. They tried to take him out from the office but failed.

Its fact; the global elites have suffered from their wishful thinking since Trumps inauguration. People in the U.K voted to leave the EU and in the U.S, they voted for Trump. What do you think? Are people in the U.K and the U.S stupid? It remain to see.

On 6 June 2019 at 6pm, the official international ceremony celebrating this major anniversary will take place on Juno Beach and will be attended by many Allied Heads of State.

U.S President Donald Trump, British Prime Minister Theresa May and many other world leaders and dignitaries will all be in Normandy to mark the 75th anniversary.

The French president, Emmanuel Macron is facing criticism for refusing to attend an international ceremony at Normandy`s Juno Beach next week. Instead, he is to take charge of a ceremony in homage to French commandos and Resistance fighters who took part in the Normandy landings in 1944.

In the morning of June 6, Theresa May and Mr Macron will lay the foundation stone of the future British Normandy Memorial, commemorating the 22,442 troops under British command who died in the summper of 1944 during fierce fighting as the Allies invaded France.

Later he will join Donald Trump at the American ceremony at Colleville-sur-Mer. At Omaha Beach, Mr Macron will award the Legion of Honour, France`s highest distinction, to five American veterans aged between 94 and 100.

Louis Mexandeau who is 87 years old, is a former minister for veterans, and he said: «We had hoped that France would honour in the appropriate manner the sacrifice of tens of thousands of Allied soldiers.»

We will all honor and pay tribute to our fallen heroes. The men who landed on D-Day, leading to victory in Europe in World War II.

A rich and unprecedented programme of events will be put together to bring the memory of this tragic period of world history to life, all while emphasizing the spirit of hope. The anniversary will be commemorated with military parades, firework displays, airdrops, giant picnics, conserts and military camp re-enactments.

Normandy`s D-Day landing beaches have come to symbolise universal hopes for freedom and peace, and beyond that, for reconciliation.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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Therese Johaug took 3,5 gram of Trofodermin on her lips and CAS extended a ban from 13 to 18 months

Last year, the Norwegian cross-country skier Therese Johaug tested positive for banned substance called Clostebol which is contained in the sunburn cream called Trofodermin. The Court of Arbitration for Sport (CAS) extended a ban imposed on the Norwegian skier on tuesday.

The ban came out yesterday, and it is extended from 13 to 18 months.

 

 

Doctor Bendiksen said Johaug took 3,5 gram out of 30 gram of Trofodermin and non of them saw the doping brand on the other side of the package. That sound a little bit strange, but if it was a box of pills, this case would have been very different.

A pill is something you put inside your body but a suncream is something you put outside of your body. That`s probably why they were both “sleeping”. Who is thinking that a suncream can be harmful for the body?

What would you do in this case? Would you scrutinize the package before you took the suncreem on your lips? No, I don`t think so. In other words; we are talking about “bona fide”.

Johaug`s doctor takes all the responsibility for the case, but according to CAS, Johaug is responsible for everything she takes. Johaug find the ban unfair and totally undeserved, and said “I am aware of my responsibility as a performer for medicine I use.”

Johaug is one of the best. She won gold in the 4 x 5 km relay at the 2010 Winter Olympics in Vancouver. She won her first individual gold medal in the 30 km mass start race at the 2011 World Championships in Oslo.

At the 2013 World Championships she won her second individual gold medal in the 10 km freestyle race. At the 2014 Winter Olympics in Sochi, she won the silver medal in the 30 km mass start.

Another winner is Norway`s Martin Johnsrud Sundby who has been stripped of his 2015 Tour de Ski and 2014/2015 overall World Cup titles after the CAS upheld an appeal by the World Anti-Doping Agency (WADA) against him and the International Ski Federation (FIS).

The three-time overall World Cup champion was penalized for twice exceeding the amount of Sulbutamol, also known as albuterol and a «standard therapy against asthma symptoms.» Based on WADA rules, the maximum amount that is allowed to be inhaled is 1600 micrograms over 24 hours.

Sundby axceeded those limits on December 13, 2014 in Davos, Switzerland and January 8, 2015 in Toblach, Italy. Samples was analyzed by WADA.

“While the medication is normally applied by a handheld metric dose inhaler (MDI), the athlete used a nebulizer to administer the prescribed salbutamol for the treatment of his asthma, which requires a higher labelled dosage than the MDI and thereby exceeded the allowed maximum dose,” FIS stated in its press release.

“The FIS Doping Panel had therefore found that the athlete had not committed an anti-doping rule violation when he used a nebulizer as a legitimate means to administer salbutamol instead of a metric dose inhaler (MDI).”

Therefore, the athlete had a higher dose because of the need to use a nebulizer which requires a Therapeutic Use Exemption (TUE). When the tests were conducted in December 2014 and January 2015, the athlete was not in possession of a TUE and therefore found guilty of an anti-doping rule violation.

We need to use the term “bona fide” in this case too.

WADA appealed the FIS Doping Panels decision, made Sept 4, 2015, which defended Sundby. The CAS upheld WADAs appeal and, effective July 11, 2016, sanctioned Sundby for two months.

In both cases, there are doctors involved and in both cases you can clearly see that the doctors is nothing you can rely on.

Another winner is Lance Armstrong. An American former professional road racing cyclist. He is the 1993 professional world champion, and won the Tour de France a record seven consecutive times from 1999 to 2005.

In 2012, he was banned from sanctioned olympic sports for life as a result of long-term doping offenses. As part of those sanctions, all results going back to August 1998, including his seven Tour wins, were voided.

A United States Anti-Doping Agency investigation concluded that Armstrong had used performance-enhancing drugs over the course of his career and named him as the ringleader of «the most sophisticated, professionalized and successful doping program that sport has ever seen.

Lance Armstrong chose not to contest the charges, citing the potential toll on his family. He has declined to testify about the full extent of his use of the drugs.

Armstrong`s great-grandfather was the son of Norwegian immigrants. He started his sporting career as a swimmer at the City of Plano Swim Club. He won the Iron Kids triathlon at the age of 13. He was ranked number one triathlete in the 19-and-under group in 1987-1988. He is the 1993 World Champion.

There is no doubt; Armstrong is a winner without any drugs and it started very early. Just like Usain Bolt.

For me, it is very interesting to see that Lance Armstrong had a resting heart rate of 32-34 beats per minute (bpm) with a maximum heart rate of 201 bpm. This is exactly what I had in my latest test in the 90`s. So I know who I am.

I know very well how it is to have that heart rate, so my question is: was it necessary with all this drugs? I dont know how much better you are with all this kind of drugs, but wouldnt Armstrong win without it?

You cant take a pill and think you can win Tour de France. Its not that easy. We have seen people with drugs coming in far away from top three. World Champion Chess player Magnus Carlson is not the best chess player because he take some drugs.

You still have to exercise, be strong and smart. And you have to exercise in many, many, many years. Many of the winners started as kids.

I started as a football player in Rosenborg FC when I was 8 years old. Later on the same year I started to play ice hockey. Further on, I got my first racer bicycle from my mother when I was 12. I went on a ride the same day and my mother was shocked when I told her that I have been on a 70 kilometer (43,5 miles) long ride.

Look at Usain Bolt. Also he started very early. He said; «When I was young, I didnt really think about anything other than sports», and by the age of 12, he became the schools fastest runner over the 100 metres distance.

He is an eight-time Olympic gold medalist and the first person to hold both the 100 meters and 200 meters world records since fully automatic time became mandatory. He also holds the world record as a part of the 4 x 100 metres rely.

He is the reigning Olympic champion in these three events. Because of his dominance and achievements in sprint competition, he is widely considered to be the greatest sprinter of all time. What`s wrong with that?

We all know there is a black problem in the U.S, but so far, I havent heard something negative about Usain Bolt. It was different 80 years ago, and that takes me back to Hitlers Germany and a moment that stands above others: Jesse Owen`s performane at the 1936 Berlin Olympics.

A black man destroyed the theory of Aryan physical supremacy by winning four gold medals.

The Fuhrer was so horrified by Owenss trumph, he stormed from the Olympic stadium and didnt shake Owen`s hand, as he did with every other medalist. President Franklin Roosevelt never congratulated Owens or invited him to the White House either.

Owens was also witness to the U.S Olympic team`s decision to replace two Jews on its relay squad with two African-American runners. The Americans were accused of acquiescing to Nazi demands not to humiliate them by letting Jews beat them as well as blacks.

After the Olympic Games, Owens was forced to declare bankruptcy and no one was offering him a job. Later on he briefly toured with a twelve-piece jazz band under contract with Consolidated Artists, but found it unfulfilling.

By the time he died, Owens was financially comfortable. Presidents and governments in America and beyond were competing to honour him as a symbol of athletic wonder and of opposition to fascism.

Chris Froome won the Tour de France for the 4th time this year and he is the second in the list of most Tour titles. Jacques Anquetil, Eddy Merckx, Bernard Hinalt and Miguel Indurain have all five wins. Lance Armstrong has seven, so Chris Froome can take more gold in the tour in the years to come.

Some people have to realize that some people are better than others. Its about DNA. Your DNA is not the same as mine. So? Im a talented cyclist but I could never win a fight against Mike Tyson. I simply don`t have the skills. But I would have crushed Tyson in cycling.

We are all talented people and your skills is a gift to you from God. Your job is to find it. We are all born winners but have different skills.

What is your skills?

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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